Economy

Watch, she's going to be cutting a deal. She don't want to go to federal prison.

I just think the American consumer has been hammered twice. COVID was a total disaster, and now gas prices which today I just looked four dollars a gallon on average. That seems to be the status quo. Because I was reading in the Wall Street Journal, we didn't get to this with Trita, that the Trump administration seems to think that they can live in this this status quo with Iran, this like we're you know, no war, no peace because gas is quote only four dollars a gallon, which we both know is just so devastating, not just for the inputs of everything that needs to be trucked, etc. Like all that, but really it just just eats away at any of the disposable income that people have. And it's about to get cold. So when it get cold, demanded all that stuff, it's going to go up hurricane season. That's all you need, and then next thing you are looking five dollars.

Now they're going to go and recess. Now we're going to go back to run for reelection. Now you're going to have a lame duck and nothing's going to get done to codify this.

soon the Supreme Court is going to side with Calcium, almost one hundred percent sure of it, and this will be absolutely nationwide legal

I believe we're going to get into we're going to do a CR. They're already talking about a government shutdown.

I've talked about that, but this is not a plan that is going to boost manufacturing jobs in the United States.

That's why I still expect the price of oil to hit 125, 150.

I personally think it would be a good move at this point for these guys to self-age gate. Say we're not letting anyone on the platform. I think they're gonna do that. They're gonna do it the night before it's about to pass and congress is one.

And gas will be on average $5, $6 a gallon.

I think the price of crude will be $150 a barrel at this rate.

My assumption, my assumption is the teachers' unions will oppose it.

we're like very likely to hit one hundred dollars a barrel today

You have the price per barrel of oil right now at over $100 a barrel. And I think that's going to very quickly escalate to $150 a barrel pretty soon.

as crude oil only has maybe a few weeks to even be left. Like we're already at a tank bottom portion, but soon there'll just be no crude oil left in the US supply. We're already at the lowest inventory in 45 years.

We're at that stage right now where we're at a tank bottom stage. We'll soon be at a stage where there's no more, but it's this sludgy type of material now at the bottom that's harder to refine.

This isn't going to make Canadian say, how can we do a deal with you, sir? It's going to make Canada say, what can we do more to hurt you more?

yeah, they're up already like 13 points this past week. And I think going to go up another 15 points this coming week, just because that's already baked into the wholesale prices.

even if we do get out of this, we're just all going to be paying three point fifty a gallon for forever, I mean, at this point, for the rest of Trump's presidency

causing the price of oil to surge crude up now over $90 a barrel. That's going to hit $100 a barrel soon.

But with this escalation, we can expect that to go up into the 90s and perhaps even higher, we'll see where that lands later today when the futures market opens

the prices are going up we're heading back to four dollars a gallon

That means we're going to hit fuel shortages soon. That means there's going to be lines at the gas station.

Okay, let's say it's not 25%. But I mean, they are all desperately trying to get to fire 10%. So 10% unemployment is a near guarantee at this point.

there was an article out this morning that barrel of oil is going to go to $105. It's currently at 90 and at 90, it's already causing worldwide economic downturn, enormous energy prices, energy shortages in Asia and in Europe. And that's at $90. It is definitely going to $105.

do I think there will be another fake memorandum of understanding? Yeah, because inevitably you have to write like oil has got to flow eventually

I've seen prices out here in California. It's back over $6, North Carolina over $6. The national average is about to be $4 again.

And I don't know where it stops. I'd be shocked if we didn't get to 12% unemployment.

What do you think that happens when all the companies do that? So we're going to hit 10% unemployment super easy and super quick.

This strategic Petroleum Reserve near its minimal operating levels. It will dip below that within the next week or two, which will lead to some very interesting conversations.

Then you'll see the oil go from $80 a barrel to $120, $130 a barrel to $150 a barrel, you know, very, very quickly.

And now gas prices are going back up to $4. And if you look at our strategic reserves, they're being depleted.

the gas is about to go average over $4 a gallon right now

That's of course, evanescent because inflation can start, you know, oil prices, they're already up from 65, a barrel to 75 or 80 a barrel just in the last week.

There very soon will no longer be a safety buffer to protect the world from further losses out of the strait because that strategic petroleum reserve feeds into the entire global oil market.

There's going to be every every homeowner will be underwater. It's going to be like 2008.

they can now file a lawsuit against the federal government for hundreds of millions of dollars, which they're going to do

we're 10 days, 11 days now or so from hitting the emergency area where the whole system may just like shut off

I mean, look, if Trump wants to keep oil prices down here in the United States by preventing the international trade of the oil and natural gas that's produced here in the US, I mean, that would be a choice. I don't think he's gonna do that though.

What that means is that we're heading for a great recession, which most Americans are already in.

Gas prices are going to go through the roof.

I expect oil to be $90 to $100 again per barrel very soon.

You could get both, And that is kind of where I am leaning as a likely outcome of this thing. I think it is definitely a bubble. I think it is going to crash.

I'm going to make another prediction in this show. Decision will be reversed.

the Fed's going to probably have to raise interest rates a few times where we're heading

And that continues to rise, as I've said, will probably hit 5%, 6% soon.

is something far in the future. It's just not going to happen, particularly running these deficits

Now, that's going to get reversed in the Justice Department there.

Iran's got $12 billion of it right now. And every day they're going to be making $3 billion to $5 billion and become one of the wealthiest nations in the world. Right? That's just the reality.

Inflation will probably hit by the end of Trump's term 10 to 12% maybe more. They're not being hyperbolic.

Inflation is surging right now and I would not be shocked. The Fed is going to have to step in. They'll probably, as Bank of America says, have to raise interest rates two, three times maybe more at this point when they were supposed to do interest rate cuts.

They're waiting for the price to come down to be able to continue, but they will have to do it, you know, sometime in the next month or two.

I genuinely believe the US is going to claim that aliens exist at this point. This is this is a no brainer.

So it's very likely that there will be a fight.

It's good, the gas price is going to go down, it probably won't go back down to where it was, and people are not going to forget one hundred days.

They'll definitely have hundreds of billions of dollars that they didn't have before.

We should begin to see gas prices come, which is good. You know, we're going to see it's still about four dollars a gallon nationally. They'll probably normalize around three point fifty or so.

So still, prices will likely surge as oil inventories decrease.

But at the same time, the voters see what's happening to their own pocketbooks. They see the rising price of fuel. They're not gonna be happy about this. That's gonna hurt them and that's going to discourage them from reelecting some of these Republican lawmakers way more than anything else that the Trump administration is up to.

you're also probably going to see a decline in the larger market for tech stocks because I think so much capital is going to be sucked up by these guys

The American people will now see gas prices continue to go up

we will be hitting that point, as I've been saying now, every damn day, where the oil prices will be $160 a barrel, $200 a barrel. We're just moving towards that.

Since we started filling up strategic reserves, since literally the idea of a strategic reserve was created, we're about to soon have less in our strategic reserves than day one of filling up strategic reserves.

Is that it is both a bubble and it is going to be extraordinarily transformational. I think it's both

I don't think, I don't see the Fed doing a rate cut, which I know President Trump wants. I don't see that happening.

And I know I keep raising this red flag, but we're like a week and a half away from really running out of the kind of threshold number in our oil reserves, where all of a sudden you then see a dramatic spike.

it will almost certainly not survive significant court challenge

are trying to do a blitzkrieg and roll this thing up and we've stopped them every time. And guess what? We're going to stop them again.

At least $150 per barrel into the $200 per barrel for the futures market.

And it causes the price to literally be $8 a gallon, $10 a gallon, $12 a gallon.

It's probably not tomorrow. It's probably closer to 7 to 14 days.

And we said gas prices were definitely going to go up. And I'll tell you right now, gas prices are going to continue to go up.

President Trump is not doing away with the income tax. He would like to, but this is, I say, aspirational, and particularly when we're running these types of deficits.

and I suspect as we roll into the midterms they will go down again right trump will make sure that happens

I think at some point, these drugs are going to be less than $100 a month and maybe even lower than that.

one or more of these stocks is going to be about 40 to 70 percent and it's going to send the US and the global economy into a recession

because of the fact that the diplomatic talks are completely off and there are also talks about a different straight that Iran might block, oil prices are likely gonna go up to $160 per barrel

I believe that the SPR will reach its lowest level ever by next week

So that's going to play out at some point, but I don't think it's going to happen in front of this judge.

He'll appeal. It'll be a mess.

And then you'll be seeing $6 $7 $8.00. You'll be seeing gas lines. We're very close I've been warning about this the exxon executive finally said it

Grocery prices are never going back. They probably aren't even going to come down overall, but they are definitely never going back to the prices that there are people still waiting for.

The Treasury is going to have a tough time rolling over the debt refinancing. They'll get it done. But I believe they'll get it done at higher rates.

President Trump, the aspiration is to do away with income tax. That's going to be, I don't know, decade in the future. It's not going to happen today.

So you really think things are going to go back down to fifty Like, No, I don't think so, it will remain elevated.

And I think even the White House at one point honestly said, yes, gas will not be below three dollars a gallon for like a year. Yes, I think that's correct.

I'm going to tell you, I think Hassan Piker is going to just be like, you tell me what you want and I will give you everything.

The prices don't go down to where they were because of the risk factor in the straight.

The median base case on Wall Street is that oil will remain over one hundred dollars a barrel for at least the next year. So what's that about four bucks a gallon something like that. So, yeah, good luck, We're all going to be paying that for quite a long time.

I said, it's going to be 5%. It's going to be 5% year over year. That's what it looks like. It's heading towards.

That's been stripped out of the reconciliation bill for good. Bye bye to all of that.

and by the end of next year we could be at 6% 6.5% that's where we're gonna be

And the gas prices are not getting any better. So this is going to be something that Americans have to contend with through the election.

even if the war ended now, gas is not going below three fifty a gallon period at least for I don't know, maybe a year.

And at the end, I guarantee you, the very rich is people in the country. The oil companies, etc. Will say, we need a bailout.

Yeah, so I think that oil is gonna go past $150.

The national average of diesel today is five sixty six gallon, and the all time high is five eighty one. So give it what a week and we'll probably be there.

Gas is six fourteen a gallon in California, it'll probably be seven.

So now we were going to get cuts at the Fed for on interest rates. We're not getting that anymore. In fact, they'll probably raise interest rates, which will then hurt the economy even more because inflation is already out of control.

So okay, guys, here's a marker for you. Me versus all of Wall Street. And I'm going to tell you right now, all of Wall Street is dead wrong. And that market is going to crash like we haven't seen in our lifetimes.

So what's gonna happen to that market, hear me now quote me later, is when we go back into the war, cuz Netanyahu just ordered us back into the war, and then Trump ripped up the peace deal. And Trump just said today, there's only a 1% chance we don't go back into the war. Markets didn't go down and all, they're like, no, the war's almost over. Bye, bye, bye, okay? It's going to be a spectacular crash.